Tata Power moves up as its JV gets three year extension from DSIR for in house R&D unit
Tata Power Company is currently trading at Rs. 250.85, up by 5.80 points or 2.37% from its previous closing of Rs. 245.05 on the BSE.
The scrip opened at Rs. 246.95 and has touched a high and low of Rs. 251.90 and Rs. 246.00 respectively. So far 319865 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 252.75 on 24-Aug-2023 and a 52 week low of Rs. 182.45 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 251.90 and Rs. 243.80 respectively. The current market cap of the company is Rs. 80203.02 crore.
The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 24.66% and 28.47% respectively.
Tata Power Delhi Distribution (TPDDL), a joint venture between Tata Power and the Government of NCT of Delhi, has received a three-year extension till 2026 from the Department of Scientific and Industrial Research (DSIR) for its in-house research and development (R&D) unit.
TPDDL has received the renewal of recognition for its smart grid lab as the 'in-house R&D unit' for the next three years by DSIR. The acknowledgement by the DSIR provides exemptions from customs duties to the discom, if applicable, for the import or purchase of equipment, instruments, spare parts, or consumables intended for R&D-related activities.
Tata Power Company is India’s largest integrated power company.
